11.05.15

Good morning,

The People’s Bank of China reduced their interest rate to 5.1% with analysts expecting this to allow companies to invest with cheaper borrowings and in turn to give an upturn to their economy. The National Australia Bank’s Business Conditions & Confidence figures were out overnight. AUDUSD trading at 0.7905 Japanese Leading Economic Index and Coincident Index figures for March are out in the next 24 hours. USDJPY trading at 119.91

The NIKKEI closed at 19620.91 up 241.72 points or 1.25%

In Europe today Danish figures, including Trade Balance, Current Account and Inflation, will start the session. Swedish Unemployment will be announced for April. USDDKK trading at 8.2517 while EURDKK trades at 7.4615 at time of writing. Norwegian Consumer Price Index figures also out this session. The Bank of England Interest Rate decision will be announced today, with rates expected to remain unchanged at 0.5% after last week’s election. EURGBP trading at 0.7253

The FTSE100 was trading at 7034.02 while the DAX was trading at 11675.15 after the opening bell.

In the US today very little data to report aside from the Labor Market Conditions Index for April. Retail Sales figures on Wednesday will be the main indicator for the USD this week. EURUSD trading at 1.1159 with GBPUSD trading at 1.5402 EIA Crude Oil Stocks change figures also out this Wednesday, USOIL currently trading at $60.35 at time of writing.

The DOW closed at 18191.11 on Friday last week, gaining 267.05 points or 1.49% on the day.

Hope you all have a nice week.